Who You Gonna Call?

Hi Scott,
 
My partner and I are looking at combining our insurance now we are moving in together. He has always used an insurance broker, I never have. He says it gives him peace of mind in case something happens, but I don’t know if I can justify paying an extra $250 a year. Are brokers worth it?

Gabe
 
Hi Gabe,
 
So this is controversial. However, like your partner, I get almost all my insurance through a single insurance broker, who charges me a commission.
 
Yes, I pay a bit more than I would going direct. Yet, as someone who’s lost a home, crashed multiple cars, had flood damage and more (you name it, I’ve claimed it), I’ve found that insurance is all about claims management.
 
And when something goes wrong my broker really earns his money. I just pick up the phone, call him, and let him sort everything out. Reading policies, understanding what I’m covered for, talking to insurance companies, sorting replacements, handling claims ‒ he does it all for me.
 
However, only you can decide whether you’re willing to pay the extra ‘insurance’ for claims management.
 
Scott